May volumes fall further at cargo airports

May cargo volumes saw further drops as airspace restrictions remained in place, Shanghai stayed under lockdown and manufacturing activity slowed, averaging a 13.2% year-over-year decrease in tonnage at some major cargo airports. While airfreight volumes generally remained depressed globally, the largest impact of ongoing disruptions was seen at major hubs like Memphis (MEM), Amsterdam (AMS), Frankfurt (FRA) and Shanghai (PVG). As expected, the Asia-Pacific region continued to see the most significant drop in airfreight volumes, with the regional average down 23% YoY in May. [caption id="attachment_95038" align="alignright" width="455"] Cargo Warehouse at Osaka (KIX) airport. Photo/KIX[/caption] Although airfreight stakeholders remain optimistic about volumes returning once the restrictions lift, manufacturing activity is limited due to the lack of production capacity and raw materials . In turn, the downward trajectory in volumes since the start of the Ukraine-Russia war and March COVID-19 restrictions may continue into June. North America Freight volumes dropped YoY across the region in May, with MEM seeing the largest drop of 13.2% less freight than the same period in 2021 at 329,510 tonnes. MEM ranked No. 2 in the world’s airports for cargo tonnage in 2021 , according to preliminary data from Airports Council International (ACI). Cincinnati/Northern Kentucky Airport (CVG) had the smallest decline in the region of 1% YoY but saw a 14% decrease compared with April tonnage. Meanwhile on the West Coast, Southern California airports Los Angeles International (LAX) and Ontario (ONT) both recorded drops in cargo in May, at 7.5% and 3%, respectively. The outlier for the region was Louisville International Airport (SDF), which moved 248,470 tonnes of cargo, a 1% increase YoY, according to the airport’s May traffic report. Asia-Pacific PVG continued to feel the impact of Shanghai COVID-19-related closures, only seeing 78,018 tonnes throughput during May, a 92% YoY decrease. Domestic cargo saw the greatest change, with only 279 tonnes of throughput in May, according to Shanghai Pudong International Airport Cargo Terminal’s (PACTL) latest air traffic data. But PVG’s numbers are improving as expected , with a 36% increase in cargo throughput compared with April. Traffic in Japan matches demand , with Kansai International Airport (KIX) seeing the smallest drop YoY of 1% and 4% growth month over month. Incheon (ICN) saw a YoY reduction in cargo arrivals by almost 10% at 118,460 tonnes and an overall decline in throughput, recording 233,509 tonnes for the month, 8.8% less than the same period in 2021. Hong Kong (HKG) saw uncharacteristic declines in its cargo throughput, moving only 365,000 tonnes of cargo in May, a 9.7% decrease YoY and 6.3% drop MoM. The decline in volumes was attributed to the ongoing geopolitical challenges in Europe as well as disrupted supply chains, according to a June 17 statement. Exports decreased 15% YoY, with cargo traffic to and from Europe and North America seeing the most significant declines in cargo volumes. Europe Airports in Europe continued to see depressed cargo volumes in May. AMS reported a roughly 23% YoY decrease in throughput to 119,551 tonnes of cargo for the month, according to the latest traffic statistics. Brussels Airport (BRU) also reported a YoY decline with volumes down 4.2% to 52,629 tonnes. FRA in Germany also saw a decrease in tonnage, handling roughly 173,661 tonnes of cargo in May, down roughly 15.5% YoY, FRA reported. The decrease in tonnage continued to be attributed to airspace restrictions due the Ukraine-Russia war and China’s COVID-19-related restrictions, the airport reported. Additionally, the global procurement manager index continued to be at its lowest point in April, as manufacturing activity continued to be impacted by cost pressures and low amount of orders, according to FRA. Meanwhile in the U.K., London Heathrow Airport (LHR) saw a slight decrease of 2.7% YoY to 114,364 tonnes of cargo in May. However, volumes were still higher compared with April , which saw 112,828 tonnes of cargo.

May volumes fall further at cargo airports

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